SpaceX backers weigh big choice

Venture fund investors consider whether to sell their shares when lockup provisions expire ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot Space Exploration Technologies Corp $201.80 +4.8% Verizon Communications Inc $46.73 -0.7% Knowledge Atlas Technology JSC Ltd HK$1,660 +13% Market data as of 05:29 AM ET. Data is subject to provider delays. Your watchlist Top Stories Apple’s product plans: The iPhone maker plans to unveil camera-equipped AirPods in 2027. Here’s what else is coming next year. Threads’ milestone: Meta’s answer to X has reached 500 million monthly users. The social network has changed over time. Verizon’s pitch: The wireless carrier introduced a simplified wireless service plan. It’s a piece of the new CEO’s turnaround effort. Must Reads SpaceX Cements $60 Billion Cursor Takeover Following IPO SpaceX formally agreed to take over Cursor in a deal that values the artificial intelligence coding startup at $60 billion, cementing a key part of Elon Musk’s efforts to catch up with rivals on coding tools. Snap Launches $2,195 Specs, Declaring Glasses the Next Computer Snap Inc. introduced Specs, a $2,195 pair of augmented reality glasses that co-founder Evan Spiegel described as a leapfrog advancement and the computer of the future. Anthropic Curbs Show Need for Sovereign AI, Upstage CEO Says The US directive to restrict foreign access to Anthropic PBC’s most advanced technologies underscores the importance of South Korea’s sovereign artificial intelligence efforts, according to the head of a leading domestic AI startup. Beyond The Brief Longtime SpaceX investors are required by the terms of the company’s IPO to hold their shares until at least the first earnings report, but the ever-climbing stock price has them pondering what to do, Ed Ludlow reports in today’s Tech In Depth. While some VCs say they are sticking with Elon Musk’s company, institutional investors and family offices may feel pressure to sell as soon as they can — and that will be the real test of SpaceX’s market value, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. New From Bloomberg Get the AI Today newsletter, chronicling the disruptions and threats of AI on businesses, workers, finance and economies with analysis from Bloomberg’s global newsroom. Before You Go... Lutnick’s Letter to Anthropic Warned of Curbs on Top AI Models US Commerce Secretary Howard Lutnick warned Anthropic PBC in a letter last week that it would need government permission to grant foreign nationals access to its most advanced AI models and threatened criminal and civil penalties if the firm failed to comply, according to a copy seen by Bloomberg News. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |